Malawi, China Agrees Into Economic and Technical Cooperation

Goodall-Gondwe-Zhang-QingyangFinance,Economic Planning and Development Hon.GoodalHon.Goodal Gondwe and the Chinese Amb,to Malawi,HE.Mr.ZhangHE.Mr.Zhang Qingyang during the signing ceremony at Capital Hill – Pic by Stanley Makuti

Lilongwe, January 30, 2015, Mana: The Malawi Government and the Government of the People’s Republic of China on Thursday entered into two agreements on Economic and Technical Cooperation.

Under the two agreements, the People’s Republic of China has given Malawi a sum of US$16 million grant and US$ 8 million loan.

Speaking after the signing ceremony of the two agreements, Minister of Finance Economic Planning and Development Dr. Goodall Gondwe said the first agreement is for the grant amounting to US$ 16 million and the second one is an interest free loan worthy US$ 8 million.

Said Gondwe; “The loan will run for five year, thus from January 2015, to December 2019. As for the resources whose agreements have been signed today, they will be used on projects to be jointly agreed by our two governments.

“We are already in discussion with the Chinese government through the Commercial and Economic Counselor’s office, on a number of projects for possible financing.”

 According to the Finance Minister, the possible projects include: the renovation of youth centres in some districts in the country to turn them into community colleges, drilling of boreholes, provision of technical cooperation for the Bingu National Stadium which is under construction, phase three of the technical cooperation for the parliament building as well as the expansion of Thyolo Secondary School.

He further highlighted that the kindly gesture comes as a result of the visit to Malawi in 2014 by the Chinese Vice Foreign Minister, Mr. Zhang Ming.

Speaking Earlier, Zhang Qiongyang who is the Extraordinary and Plenipotentiary Ambassador said they regard Malawi as a friend indeed hence the donation.

“A friend in need is a friend indeed; the agreements show that the Chinese Government and the people regard Malawi as a true friend.

“Since the establishments of the diplomatic ties seven years ago, China and Malawi have always been a community shared destinies, common developments task and shared strategic interests have bound us together,” he highlighted.

Recently, Malawi and China also held a signing ceremony whereby, China gave to Malawi the mobile solar system worth US$ 1.6 million.